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Lufthansa shares nosedive amid Gulf challenge

Earnings forecasts for 2014-15 slashed as ticket prices dip
Thursday, June 12, 2014 - 06:00
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Headed for revamp: The German carrier, which is seeking to respond to a capacity splurge at Gulf rivals by lifting service levels with new seats and enhanced catering, will unveil a more comprehensive restructuring plan next month. - PHOTO: REUTERS

[LONDON] Deutsche Lufthansa AG fell the most in five years after cutting earnings forecasts for this year and next as a capacity splurge at Gulf rivals hurts prices and its own pilots protest against cost cuts. Operating profit will amount to about one billion euros (S$1.69 billion) in 2014 and